Breguet Buys Pocket Watch for $1.12 Million at Auction
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Breguet Buys Pocket Watch for $1.12 Million at Auction

Breguet Buys Pocket Watch for $1.12 Million at Auction
An antique pocket watch along with two other timepieces was acquired by the Breguet Museum as announced by its CEO Mark Hayek. Breguet acquired the Number 4, 691 for $1.2 million at Christie’s and Sotheby’s auctions.  It is one of only three similar examples. Lord Henry Seymour Conway bought the watch in 1831 for $7700, gave it to his brother Richard Seymour Conway 4th Marquis of Hertford. Marquis later on handed it down to his illegitimate son Sir Richard Wallace. The timepiece was then auctioned off by the descendants of Sir Richard Wallace as part of his estate. The great collector, widely known for the eponymous ‘Wallace Collection’ in London, was the last owner of the watch until he died in 1890. A watch with a rich history it is 7.7 mm thick and displays the time, date and moon phase based on chronometer principles. This extra flat pair cased gold half quarter gold repeating watch also has a power reserve indicator. Number 4, 691 raked above its estimated price of $650, 000 to $1.08 million and helped the Sotheby’s 2013 watch sales to a total of $19.1 million. “2013 marks the 190th anniversary of Abraham-Louis Breguet’s death. We are therefore extremely pleased that the Breguet Museum acquired this masterpiece of watchmaking which not only celebrates the genius of Breguet, the father of modern watchmaking but is also a testament to the eye of a great collector: Sir Richard Wallace. Today’s strong results and sale-through rates (84 percent by lot and 94.7 percent by value) underline the depth of the international watch market and the ever - growing demand for timepieces of the highest quality and rarity,” said Geoffroy Ader, head of Sotheby’s watch department in Europe.
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